Nouveau Monde Graphite Closes US$309.5 Million Financing
Nouveau Monde Graphite closed a US$309.5 million graphite financing package and said the money release now supports its final investment decision for the Phase-2 Matawinie Mine. The deal brings Canada Growth Fund, the Government of Québec via Investissement Québec and ENI into the project at US$1.84 per common share. It also moves 52,440,000 subscription receipts into common shares and lifts the company’s share count to 329,114,330.
US$213.2 Million in New Equity
US$213,160,000 came in through the private placement, with Canada Growth Fund buying 44,452,460 common shares, Investissement Québec taking 33,351,853 and ENI subscribing for 38,043,478. That capital closed a previously announced part of the financing package for the phased development of the commercial operations of the Matawinie Mine.
52,440,000 subscription receipts, issued on April 16, 2026 at the offering price for aggregate gross proceeds of US$96,489,600, will automatically convert into 52,440,000 common shares once the closing conditions are satisfied. For holders of those receipts, the move turns escrowed financing into equity already counted in the company’s post-closing capital base.
May 13 Approvals Unlocked Closing
May 13, 2026 brought the shareholder approvals needed under Toronto Stock Exchange rules and Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions. Those approvals cleared the path for the private placement to close and for the gross proceeds held in escrow to be released to the company.
329,114,330 common shares will be issued and outstanding immediately after the closing and the share exchange. That larger base matters because the project is no longer being financed as a plan on paper; the equity has been sold, the receipts are set to convert, and the capital stack is now in place.
US$335 Million Debt Commitment
US$335 million in previously announced senior project debt facilities sits alongside the equity package and gives the company the financing basis it cited for the final investment decision on Phase-2 Matawinie. Nouveau Monde Graphite said the closing of the private placement and the release of the offering proceeds, together with that debt commitment, confirm the decision.
US$309.5 million in total financing is the number that changes the story for this graphite project. The immediate task for the company is execution: the receipts convert, the proceeds move out of escrow, and the Matawinie build advances with both public and private capital already committed.
